Archive for the ‘50 Cent’ Category

50 Cent was ordered to testify about his finances in Manhattan Supreme court Tuesday morning, in the second trial to determine what amount of money will be paid to the poor couple whose sex tape he released. 50 said that his over-the-top displays of wealth ain’t what them seem so that he won’t have to pay anybody too much money for uh, I dunno, RELEASING THEIR SEX TAPE.

Excuse one, the fancy cars: “Those cars were rented,” admitted the 40-year-old rapper, whose real name is Curtis Jackson.“It’s like music videos, they say action and you see all these fancy cars but everything goes back to the dealership,” he added.

Excuse two, the rings and chains: “I borrowed from the jeweler,” he admitted. (According to page six he only owns three gold chains that he has a jeweler refashion now and then).

Excuse three, the diamond Rolex: Not a thing no more. He wears a plastic Casio G-Shock instead.

Oh sure, he still commands top dollar for appearances, gets paid $100,000 for a day of filming “Spy” and $200,000 for concert appearances, and still lives in a 21 bedroom pad in a Connecticut estate with a basketball court and night club, but you know, he wears a PLASTIC CASIO, you guys! C’mon!

The documents are almost like a documentary, chronicling 50’s early life in abject poverty in Queens, where his mom was murdered when he was just 8. He was also famously shot 9 times. His lawyer goes on, “In many respects, Mr. Jackson typifies the American dream.”

The question … what does this have to do with bankruptcy. The answer … this is a PR move on 50’s part to make it clear to his fans he’s not a failure.

Sadly for 50, the judge didn’t buy what 50 was selling. 50 was asking the judge to put the brakes on the latest case, where he was socked for $5 million by Rick Ross‘ baby mama. He wanted to halt the punitive damages phase of the trial, which could cost him many millions more. The judge rejected his attempt, and the jury is ready to sock it to the rapper.

Despite growing up in poverty, if you’re a dick when you’re rich, you gonna get SUED. Sorry, 50- maybe you wanna be more careful with who you make fun of, and who you offend?

“I’m taking the precautions that any other good businessperson would take in this situation,” the rapper, real name Curtis Jackson, told E! News exclusively today at his Southpaw junket. “You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”

That sex tape (not of 50) lawsuit cost him a pretty large chunk of money, more so than his movie roles and sweet Vitamin water $$$ could cover.

“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy,” the hip-hop star continued to E! News. “It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward. I gotta descent legal team,” he added. “You don’t have to worry.”

Don’t worry, 50, nobody cares THAT much. But it is interesting that I mean, the dude is still busy: it’s not like he’s down and out. He’s in the new Southpaw movie, still investing, still relevant to the music industry (kind of).

After losing a multi-million dollar lawsuit, the rapper has declared bankruptcy. The end of an era or the prophecy of his name coming TRUE?

TMZ confirms that 50 filed for bankruptcy on Monday, 3 days after a jury awarded Lavonia Leviston $5 mil after determining the rapper intentionally leaked a sex tape in which she was featured, in order to embarrass Rick Ross.

50 has been ordered to produce proof of income and worth so the jury can determine punitive damages, and though the rapper is valued between $10 and $50 million his liabilities are also between the same range.